Morgan Creek Capital Management Predicts Crypto Will Replace Fiat

Morgan Creek Capital Management is an American asset manager that has started its foray to the crypto space by partnering with Bitwise Asset Management.

With this partnership their firm provides access to blockchain assets for institutional investors through its Digital Asset Index Fund which tracks the top ten largest digital asset based on market capitalization.

In one of its quarterly reports, Morgan Creek Highlights, they have provided insight on how they foresee the movement of the whole crypto space.

They believe that fiat currencies will be replaced by cryptocurrencies and suggests that investors should get involved in this new type of asset class despite many experts from Wall Street calling it a Bubble.

They view blockchain as a truly revolutionary technology that will disrupt the entire Chain of Value in the same way the internet disrupted communication and commerce.

They believe that money will be replaced with the internet of value and cryptocurrencies are here to stay.

Financial Expert Show Bullish Bitcoin Sentiment Indicators

The co-founder and COO of Bitcoin IRA, Chris Kline have identified signs that lead him to believe that the Bitcoin Price will reach USD $40,000 in the next few months.

Chris Kline Identifies four reasons why he thinks this is a very likely possibility.

First Bitcoin ETFs, when approved, will expand the pool of cryptocurrency investors.

Second, Mastercard’s new patent represents a trend in consumer thinking which seem to be a fascination on cryptocurrencies and its use case.

Third, there has been a massive increase in institutional adoption.

And last, momentum is building as more and more transactions are being made in the new asset class despite generally bearish market sentiments all through out the year.

Kline’s predictions are in line with those of billionaire investor Marc Lasry who also Forecasts that the Bitcoin Price will reach USD $40,000 in a few years when it becomes more mainstream.

Walmart Asking Produce Suppliers To Use Blockchain By September 2019

The largest retailer in the world, Walmart has instructed its supplier to use a blockchain-based tracking system built in collaboration with IBM.

They have set the deadline for suppliers to integrate with their system by September of 2019.

Suppliers were informed of the initiative on a letter informing them that any company that is working with Walmart must work with the IBM Food Trust network to create a end-to-end traceability.

The move came after an E. coli outbreak that originated in Arizona earlier this year, although consumers are advised not to consume produce from city of Yuma, Walmart vice president of food safety, Frank Yiannas noted that it was difficult to track where food is sourced and grown.

With this new blockchain-powered platform, the company hopes to make complete food item traceability a reality.

Coinbase Partners With Token Startup To Attract Professional Traders

U.S. Crypto exchange giant Coinbase has partnered with a token-based trading protocol startup, Caspian that is aimed for pro traders and financial firms.

With this partnership Coinbase Pro will integrate Caspian’s “Full Stack” of tools to bring additional trading and portfolio management capabilities.

According to Kayvon Prirestani, director of institutional sales at Coinbase, customers will be able to leverage the strengths of both platforms with Coinbase’s extensive historical market data and deep pool of liquidity and combined with Caspian’s suite of seamless trading tools.

Caspian was launched just a few days ago as a joint venture of Kenetic and Tora, a crypto firm based in Hong Kong and Trading system firm respectively.

The project has already raised $16 million of funding via a token presale.

The firm reveals that its partnership with Coinbase is part of its strategy to connect institutional investors and active traders with multiple trading platforms form a single interface.

Japan's SBI Opening Corridor In Africa

Japanese financial giant SBI, through its remittance company SBI Remit, is now allowing about 500,000 customers to send money to Africa using blockchain technology.

The new treasury management sevices are being provided by venture-backed firm BitPesa, which has raised $10 milllion form Greycroft Partners and other investors to turn the bitcoin blockchain into an enterprise payment rail.

The License BitPesa uses a combination of bitcoin blockchain and other services to create new currency pairs which is said to be a lot faster than relying on a number of banks and other middlemen to move yen into U.S. Dollars or Euros and then out African currencies.

Aside from remittance, SBI Remit direcetor Nobuo Ando believes that BitPesa’s multiple international licenses will help jump-start African commerce with Japan on a larger scale due to additional layer of trust and transparency aside from the inherently lower cost of moving money around.

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